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SimiGon Limited - Contract Win

RNS Number : 8706F
SimiGon Limited
18 July 2019
 

SimiGon Ltd

("SimiGon" or the "Company")

 

SimiGon wins United States Air Force mixed reality contract

 

SimiGon, Ltd. (LSE: SIM), a global leader in modelling, simulation and training solutions, is pleased to announce that it was awarded with a further strategic contract by the United States Air Force ("USAF") to provide SIMbox-based T-6A Mixed Reality (MR) training devices for USAF Undergraduate Pilot Training (UPT) at Laughlin Air Force Base (the "Contract").

MR enhances pilot training by blending virtual and physical worlds, for example trainees using the devices will be able to see their hands physically interact with the simulated cockpit while being fully immersed in a high-fidelity virtual environment. Trainees will be able to train individually and collectively, for example, in formation and tactical scenarios, using SimiGon's Distributed Mission Training (DMT) technologies. Instructors will be able to track trainee progress using SimiGon's advanced data analytics capabilities.

This Contract further establishes SimiGon's training systems as incremental to USAF and international military aviation customer's efforts to accelerate pilot training throughput and better address pilot shortages worldwide. By providing student pilots cost-effective, realistic training systems, significantly enhanced by VR and MR, SimiGon's technologies and capabilities address this market opportunity.

The expected revenue from the Contract has already been factored into management's expectations for the year ended 31 December 2019.

SimiGon President & CEO, Ami Vizer, said: "We are excited to support the USAF UPT training needs with our advanced technologies integrated with MR to provide a truly accelerated learning environment. The USAF's increased use of the Company's technology and MR solutions for its training pipeline demonstrates the many advantages of SIMbox as a scalable, comprehensive training system. We expect this contract, where we have implemented a subscription-based pricing model, to lead to additional MR training opportunities in the USAF as well as more business in the wider civilian arena."

 

Enquiries:

 

SimiGon Ltd

 

Ami Vizer, Chief Executive Officer

+1 (407) 951 5548      

Efi Manea, Chief Financial Officer

 

 

 

finnCap (NOMAD & Broker)

+44 (0) 20 7220 0500

Scott Matheison / Matthew Radley (corporate finance)

 

 

About SimiGon

SimiGon (AIM: SIM) is a leading developer and supplier of distributed simulation solutions for defence and civilian applications. SimiGon is the creator of SIMbox, a leading PC-based platform for creating, managing and deploying simulation-based content across multiple domains. Through its off the-shelf training solutions for demanding high-skill occupations, SimiGon provides diverse organizations with faster and more cost-effective training. SimiGon's growing client base includes blue-chip training and simulation systems providers as well as air forces and commercial airlines worldwide. Founded in 1998, SimiGon maintains offices in Israel and the United States.

 

 

 


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Quick facts: Simigon

Price: 6.25

Market: AIM
Market Cap: £3.18 m
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